ACA Forms: Deadlines, Late Filing Penalties, and Extensions for TY 2024

“Health is not just about what you eat. It’s also about access to care.” As the Affordable Care Act (ACA) continues to shape the healthcare landscape, accurate reporting of ACA Forms has become a cornerstone for businesses large and small.

 

Overview

Forms 1094/1095-B and 1094/1095-C are information returns under Section 6011(e)(2)(A) of the Internal Revenue Code. It states that any person, including a corporation, partnership, individual, estate, or trust, who is required to file 10 or more information returns, must file such electronically. Employers with 50 or more full-time employees in the previous year are required to file Forms 1094-C and 1095-C. Employers use these forms to report information about the health coverage they offer and the enrollment status of their employees.

Note: 10 or more Information Return requirement apply separately for each type of return and separately to each type of corrected return. Additionally, the IRS encourage all filers to submit the ACA Information Returns electronically even if they file less than 10 information returns.

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Instructions for Forms 1094 and 1095

The Affordable Care Act contains comprehensive health insurance reforms and includes tax provisions that affect individuals, families, businesses, insurers, tax-exempt organizations and government entities. Employers use these tax documents to report Health Insurance Offers, Coverage, and Affordable Care Act compliance.

1095-C: The form is used to report information about each employee to the IRS and to the employee.

1094-C: This form must be used to report to the IRS summary information for each Applicable Large Employer (ALE Member) (defined below) and to transmit Forms 1095-C to the IRS.

1095-B: Reports individuals covered by minimum essential health coverage, ensuring compliance with ACA requirements.

1094-B: It is a transmittal form that accompany Forms 1095-B, summarizing the data being submitted to the IRS.

 

Who files ACA Forms?

1095-B: Insurance providers, including self-insured employers, government-sponsored programs, and other health insurers.

1095-C: Applicable large employers (ALEs) with 50 or more full-time employees.

 

Information Filled in ACA Forms

Employers will need to capture:

• Identification of full-time employees (each month)
• Name, address, Social Security number (SSN) of Employee
• Employer’s name, address, Employer Identification Number (EIN)
• Details about health coverage offered each month (if applicable)
• Employee’s share of the monthly premium for the lowest-cost, self-only minimum value coverage
• Specific months the employee was enrolled in the health coverage
• Months the employer met an affordability safe harbor for an employee for a month
• Any other applicable relief for a month
• If the employer offers a self-insured plan:
  • Information about covered individuals’ enrollment in the plan by month (including dependents and spouses)
  • This includes SSNs or, if unavailable, then date of birth.

 

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ACA Form Filing Deadlines for 2024 TY

Tax Forms	Recipient Deadline	Paper Filing Deadline	E-file Deadline
1095 B	Friday- January 31, 2025	Friday- Feb 28, 2025	Monday- March 31, 2025
1095 C	Friday- January 31, 2025	Friday- Feb 28, 2025	Monday- March 31, 2025

 

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ACA Late Filing Penalties

Failed to Meet the ACA Filing Deadline?
Failing to meet ACA form deadlines can result in hefty fines. Here’s what’s at stake:

• Penalty Per Form: Up to $290 per return for late filing or providing incorrect information.
• Annual Maximum Penalty: $3,532,500 for large organizations (adjusted annually for inflation).

The IRS may reduce penalties for organizations that can demonstrate reasonable cause, but this is not guaranteed.

 

 

30 Day Filing Extension for ACA Forms

Well, filing late is better than not filing at all. But you can save those penalty amount and file 30 day late by filing Form 8809.
Filing this form will give you an automatic 30-day extension of the deadline for the form. You must file Form 8809 by the due date of the returns in order to get the 30-day extension. You may apply for an additional 30-day extension, if you meet certain hardship condition qualifications.

Form	Paper Filing Deadline	E-filing Deadline
1094	February 28th, 2025	April 2nd, 2025
1095	February 28th, 2025	April 2nd, 2025

 

Note: Unfortunately, there is no extensions available for the January 31 deadline for employee distribution.

 

ACA reporting may seem daunting, but with proper planning and awareness of deadlines, it doesn’t have to be. Remember, every detail counts, and timely filing is your best bet for staying on the right side of the IRS. If you’re looking for more information about the ACA regulations, reporting requirements, or IRS information on the ACA, please check this link: File 1095-C Online | E-File 1095-C| How to file 1095-C Form 2024

Looking for an efficient way to file 1095-C online?
IRS-authorized Tax1099 allows you to eFile your 1095-B and 1095-C forms with ease and utmost security.

Turn ACA compliance chaos into Zen-like calm—because nothing beats the peace of being prepared.

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